KY HB663

Establishes a quarterly installment payment program for real property taxes beginning January 1, 2029, available to taxpayers with estimated property taxes of $200 or more

Requires sheriffs and independent school district special tax collectors to create and administer the program, with quarterly payments calculated based on the prior year's assessment plus an administrative fee not exceeding 3% of total taxes due

Taxpayers automatically enroll by paying the first installment on time; collectors must notify taxpayers within 30 days when assessments change by more than 25% and adjust remaining installments accordingly

Participants in the installment program are not eligible for the 2% early payment discount, but also do not face penalties or interest on late installment payments as long as full payment is made by December 31

Overpayments may be applied to the following year's taxes or refunded upon request, and the Department of Revenue must promulgate regulations to ensure uniform statewide administration